Former Citigroup CEO Sanford Weill believed offering a mix of financial products - such as investment banking at Salomon Brothers, brokerage services through Smith Barney, and Citibank's retail and consumer banking - would protect the company.
UBS AG was created through the combination of Swiss Bank Corp. and Union Bank of Switzerland in 1997 .
Extreme concentration of capital services just dones't work, conglomerates are facing steep losses in the current great financial crisis started 2007 by subprime mortgage US market collapse.
http://cbs2.com/national/banks.credit.crisis.2.796863.html
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